Wednesday 18th November 1981
Bills at 14/14½
If on M1 or exchange rate (some tightening needed)
Base rates hung up a bit - will come down
Uncovered differential = + gave from -3
Expecting Base Rates to come down.
Lunch with Yeua (Taiwan) at Bucks - oysters - talked about the MFA [Multi-Fibre Arrangement] - Taiwan, Hong Kong and Korea are being squeezed to increase India and poor countries. He said they auction quotas in Taiwan.
Dinner with S de la Cuadra, Miguel Kast at 21 VS [Victoria Street]
W. Goldsmith and JH [John Hoskyns] there - fascinated by labour laws.
Keith [Keith Joseph] had supply debate in H/C